Gannon University was recently ranked No. 11 for “Best Value” in the North, and No. 54 for Regional Universities (North); according to U.S. News & World Report 2014.

This is the eighth consecutive year that the university has received this ranking. Best Value is determined by three factors: “ration of quality to price,” “need-based aid” and “average discount.”

According to the U.S. News & World Report website, ratio of quality to price is defined as “a school’s overall score in the Best Colleges 2014 rankings divided by the 2012-2013 academic year net cost to a student receiving the average need-based scholarship or grant.”

The “overall score” is determined through a number of factors including retention rate, alumni giving rate, student selectivity and faculty resources. This is then compared to the academic year net cost for the institution.

Essentially, the higher the overall score when weighed against discounted total cost, the better the value of the institution.

The second factor that affects “Best Value” scoring is “need-based aid.” The higher the percentage of students receiving this aid is, the better the value.

According to the information from the U.S. News & World Report rankings, 82.5 percent of students attending Gannon receive some type of need-based financial aid, with the average amount coming in at $17,346.

The final factor is “average discount.” This is the percentage of total cost of an institution that is covered by average need-based scholarships and grants to undergraduate students.

Based on these three factors, Gannon University was noted as the No. 11 best value institution in the North.

The North region encompasses Pennsylvania and Maryland and up the northeastern coast of the United States up to Maine.

Gannon was designated a regional university by the ranking system because it does not solely offer undergraduate studies, but similarly does not provide substantial Ph.D. research and national recognition.

Gannon is the highest-ranking local school in terms of “Best Value” – neither Mercyhurst University nor Behrend were ranked for Best Value – but is not the top ranking school overall among them.

Gannon falls short of Mercyhurst University’s overall ranking, which scored 17 places ahead of Gannon in terms of Best Regional Universities in the Northern region.

However, Gannon exceeds Behrend, which remained unranked due the fact that it is a satellite campus.

According to a university news release sent out on Sept. 10, William Edmondson, vice president of enrollment said, “We’re obviously delighted to receive the news about these rankings. They are a useful tool for parents and prospective students in the decision-making process.”

Edmondson went on to encourage prospective students and their families to visit the campus and speak with enrollment advisers.